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CPI Shows Consumer Prices Unchanged in November
US consumer prices saw no change in November overall, largely moderated by the steep decline in the price of gasoline. Inflation pressure is holding firm with the cost of healthcare and rent steadily rising.
German ZEW Shows Sentiment on Current Economic Conditions Has “Worsened Dramatically”
The German ZEW showed mixed to negative data today with sentiment on economic outlook rising from -17.5 to -24.1, slightly above market expectations of -25. However, the reading for current economic conditions registered a large drop from 58.2 to 45.3, significantly below market expectations of 55.
Producer Prices Rise Slightly in November, Offset by Falling Energy Prices
Producer prices in the US rose in November with service cost increases offsetting a drop in the price of energy products and a cooling trend in wholesale inflation overall, according to the Labor Department report on the Producer Price Index (PPI).
Latest Brexit Vote Cancelled
U.K. Prime Minister Theresa May has cancelled a key vote on Brexit plans as the legislation was headed for almost certain defeat. Parliament had been scheduled to vote on Tuesday on an agreement Ms. May had reached with the bloc over how it would exit the European Union.
The Market Week Ahead: December 10 – December 14
As we get into the week ahead, gold is trading in a strong position above $1245/oz, having run into some resistance overseas at $1250. The mess in the UK and this morning’s sharp selling in equities will likely continue to pressure investors into risk-off assets like precious metals and I suspect we’ll be revisiting $1250 before the week is out.
The Market Week Recap: December 3 – December 7
Happy Friday, traders. What kind of week has it been? A week of highs for gold price, certainly. (And palladium!) A week of lows elsewhere, certainly. A week of uncertainty…certainly.
Gold Price Rises Following Jobs Report
Nonfarm payroll rose by 155,000 in November after a downwardly revised 237,000 the month before. Market expectations were significantly higher at around 200,000. Jobs gains occurred in healthcare, manufacturing, warehousing, and transportation.
U.S. Mint Bullion Sales Figures for the Month of November
A key metric of current supply/demand dynamics can be found regularly by examining recent sales data. Of note is recent sales data from one of the largest suppliers of bullion products in the world: The U.S. Mint.
Initial Jobless Claims Drop Less Than Forecast
While the number of Americans applying for jobless benefits dropped last week, the drop was lower than anticipated. The four-week high in the moving average rose to its highest since April and the ADP report on new jobs shows a decline in growth, all of which suggests a slowdown in the tight labor market.
U.S. Factory Orders See Largest Drop in More Than a Year
U.S. factory orders have seen the largest drop in over a year with a 2.1% decrease in October, the biggest drop since July.
Healthy Growth in November Service Sector
The ISM Non-Manufacturing Index was released today surpassed projected readings with a figure of 60.7 for November, higher than the 59.7 forecast by analysts. The reading from the Institute of Supply Management is strong despite tariffs and concerns over the sustainability of growth in employment.
U.S. Private Sector Added 179,000 Jobs in November
179,000 jobs were added in November to the U.S. labor market. The latest employment report from the ADP (Automatic Data Processing) National lends credence to recent speculation that US economic activity has peaked, with strong labor market performance but a slight deceleration in job growth.
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